G7 Ambassadors Statement

September 16, 2016

We stress the importance of rapid adoption of the Law on State Regulation in the Energy and Utilities Sector and regret the delays in adopting this important law.

The law should set up an independent regulatory energy authority in the gas and electricity sector in line with the EU-Ukraine Association Agreement and the Energy Community Treaty. Its adoption is a key missing part for the implementation of a competitive and open gas and electricity market in Ukraine. It will help to ensure more transparency and efficiency that would greatly benefit the Ukrainian economy and meet the expectations of the Ukrainian public and international partners.

The gas law, as well as the Law on the Electricity Market, empower the Regulator to take important decisions, such as setting up transmission tariffs or the certification of transmission system operators, and to oversee and regulate the markets. This makes the political and financial independence of the Regulator from political and business influence essential.

We very much hope that the Law on State Regulation in the Energy and Utilities Sector will be passed in second reading and the Law on the Electricity Market in first reading as soon as the Rada reconvenes in plenary next week.

Source: Embassy of Japan in Ukraine

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